The worldwide value of cryptocurrencies surged by more than $800bn (£631bn) in 2023 as buyers continued to pile into the speculative belongings despite a sequence of scandals, bankruptcies and harder regulation.
After shedding more than half their value in the 12 months to December 2022, digital cash rebounded over the past 12 months – with the entire sector price roughly $1.6 trillion at Christmas.
The worth of Bitcoin, the preferred and useful cryptocurrency, more than doubled, up more than 150pc over the course of the 12 months. A single Bitcoin is now worth north of $42,000, its highest level in 18 months.
Ethereum, the second hottest cryptocurrency, elevated its value by 88pc over the 12 months.
Solana, one other widely-traded coin, climbed more than 500pc throughout 2023. The digital foreign money information got here from Coinmarketcap, which is owned by cryptocurrency change Binance.
Bitcoin’s earlier excessive was simply over $65,000, amid a shopping for frenzy in November 2021. Excessive-profile buyers together with Elon Musk piled into cryptocurrencies, nevertheless a lot of its value was worn out over the following 12 months.
But despite an ongoing sequence of controversies, cryptocurrencies rebounded in 2023.
Cryptocurrencies gain more than half a trillion in value despite controversies www.telegraph.co.uk 2023-12-29 15:41:36
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